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Bank guarantee

Contract between a bank as guarantor and a beneficiary in which the bank commits itself to pay a certain sum under certain, specified conditions. Thus, a demand guarantee is one in which the bank agrees to pay against the simple written demand of the beneficiary.

News On Bank guarantee
Vodafone and Idea may be asked to clear dues worth Rs 19,000 crore before merger

13-04-2018| Source:Moneycontrol.com

The DoT will insist on bank guarantees for OTSC dues because of the telecom mergers and acquisitions rules currently in place, even though license fee, SUC and OTSC are legally challenged

TDSAT has asked DoT to clear Airtel-Telenor merger without BG: Bharti

12-04-2018| Source:PTI

The Department of Telecom on April 3 had asked Bharti Airtel to submit bank guarantee of around Rs 1,700 crore before approving its merger with Telenor India.

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